Bausch Health Companies Inc. · TSX:BHC
Bausch Health Companies — Valeant Pharmaceuticals International — FY2013 Earnings Presentation
15 slides from Bausch Health Companies's earnings presentation, Jan 4, 2013
Slide 1: 2013 Financial Guidance Conference Call
2013 Financial Guidance Conference Call January 4, 2013 Exhibit 99.1
Slide 2: Forward-looking Statements
Forward-looking Statements Forward-looking Statements Certain statements made in this presentation may constitute forward-looking statements, including, but not limited to, statements regarding preliminary results and guidance with respect to expected revenues, non-GAAP cash earnings per share, adju
Slide 3: Agenda
Agenda 2012 Review – J. Michael Pearson 2013 Guidance – Howard Schiller New Segment Reporting Other Updates – J. Michael Pearson New 2013 Strategic Objectives Organizational Structure
Slide 4: 2012 Achievements
2012 Achievements Operations: Revenue growth vs. 2011 of >$1B and >40% Overcame ~$200 M decline related to genericization of Cesamet, Cardizem CD, Ultram ER, Wellbutrin XL Cash EPS growth vs. 2011 of >50% Organic growth of ~8% on a same store basis, ~10% Pro Forma Business Development: Completed ove
Slide 5: 2012 Achievements (continued)
2012 Achievements (continued) R&D Productivity and Product Launches: Filed multiple New Drug Applications Efinaconazole - Onychomycosis (Valeant) Luliconazole - Tinea Pedis (Medicis) Xerese (in Canada) – Herpes Labialis (Valeant) Launched more than 300 branded generic products in Emerging Markets La
Slide 6: 2012 Full Year Performance
2011 As Reported 2011 w/o One-time Items 2012 Guidance 2012 Guidance w/o One-time Items Growth 2012 Full Year Performance See Note 1 regarding guidance Revenue $2.46 billion $2.39 billion $3.4 - $3.6 billion $3.3 - $3.5 billion ~40% - 45% Cash EPS $2.93 $2.63 $4.48 - $4.53 $4.11 - $4.16 ~55% - 60% A
Slide 7: Previous Q4 Guidance Unchanged
Previous Q4 Guidance Unchanged Fourth Quarter 2012 Guidance Revenue expected to be >$900 million Cash EPS expected to be between $1.18 - $1.23 Adjusted cash flows from operations expected to be between $330 - $430 million Medicis impact expected to be immaterial See Note 1 regarding guidance
Slide 8: Medicis Integration Update
Medicis Integration Update Leadership team in place for nearly one month Nearly all personnel decisions have been made and communicated Sales incentive programs in place to ensure Q1 success Sales force product training scheduled for late January Approximately 350 sales professionals (Dermatology, A
Slide 9: Agenda
Agenda Review – J. Michael Pearson 2013 Guidance – Howard Schiller New Segment Reporting Other Updates – J. Michael Pearson New 2013 Strategic Objectives Organizational Structure
Slide 10: Financial Guidance for 2013
2013 % over 2012 Financial Guidance for 2013* See Note 1 regarding guidance Revenue $4.4 - $4.8 billion ~35% Cash EPS $5.45 - $5.75 ~35% Cash EPS Including Royalty to Meda $5.35 - $5.65 ~33% Adjusted Cash Flow from Operations $1.5 - $1.75 billion ~40% * Excludes potential acquisitions other than Nat
Slide 11: 2013 Guidance Assumptions
2013 Guidance Assumptions Exchange rates are based on current spot rates Impact from generics to be >$100M in revenues vs. 2012 Retin-A Micro, BenzaClin, and Cesamet No generic assumption included for Zovirax ~$40-$50M in revenue declines as a result of planned divestitures Solodyn revenues of ~$250
Slide 12: New Segment Reporting
New Segment Reporting Beginning in 2013, there will be 2 Operating/Reporting Segments Developed Markets Emerging Markets Revenue and Organic Growth (same store and pro forma) to be reported on a more detailed level: Developed Markets U.S. Promoted U.S. Neuro & Other Canada / Australia Emerging Marke
Slide 13: Agenda
Agenda 2012 Review – J. Michael Pearson 2013 Guidance – Howard Schiller New Segment Reporting Other Updates – J. Michael Pearson New 2013 Strategic Objectives Organizational Structure
Slide 14: New Executive Organization
New Executive Organization Mike Pearson Chairman & CEO* Howard Schiller EVP, Chief Financial Officer • Finance • Europe • South East Asia • South Africa Jason Hanson EVP, Company Group Chairman • Latin America • Oral Health • Consumer • Ophthal- mology • R&D Robert Chai - Onn EVP, General Counsel •
Slide 15: 2013 Financial Guidance Conference Call
2013 Financial Guidance Conference Call January 4, 2013
Valeant Pharmaceuticals International — FY2013 Earnings Presentation on 6ix